PXD was supposed to front (loan) the costs for the trust if they were the operator like Boone/Mesa had always done (reference the early/mid 990's SEC filings showing Mesa fronting over $12 million for a 5 well drilling program on the trust's S. Marsh Island 155 block). pxd violated that requirement on both the Brazos A-7 Figi and the Samoa dry hole deep shelf discovery prospects. So, pxd didn't expect to get sued for an illegal farmout on Midway. Woodside knew better, but deferred to pxd, because the potential huge return blinded them.
JPM didn't even inspect the farmout documents at the time, and didn't get a copy until after the lawsuit was filed. Some of the other old moshers were constantly on our trustee's case about rubber stamping anything put before them (reference the Wiegand group letter filed 2/26/07 for copies of emails to jpm, pxd and the SEC, in attempts to find anyone who might listen to the injustices thrown at our trust).
All 3 of the defendants have worked hard to be sued for mega bucks; they deserve it; and nobody should deprive them of it. I'd just like this case to go before a jury, so that they would also get the notoriety usually accorded to common thieves.